Common use of Base Salary and Guaranteed Cash Bonus Clause in Contracts

Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $150,000 payable in cash in accordance with the Company's usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the compensation committee of the Company's board (the "Committee"); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the first quarter of 2008. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing, the guaranteed annual cash bonus for 2007 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than December 31, 2007.

Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $150,000 175,000 payable in cash in accordance with the Company's usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the compensation committee of the Company's board (the "Committee"); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the first quarter of 2008. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing, the guaranteed annual cash bonus for 2007 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than December 31, 2007.